I want to purchase a home. But I’m stuck with the Debt to Income Ratio. Not because I have debt. I don’t have debt ( I already paid it all). However, my income for W2 2020 is only $41,000, or around $3600/month. I have 150K in my bank, but I only want to use it for a downpayment of 3,5% because I want to use the rest of the money to build ADU, maybe about 2 or 3 bedrooms, so I can rent it to other people to make income. because rent average around here is for room rent about 800- 900 per month. I stuck with the DTI Ratio because of my recent income and high house prices around my city. I need a purchase price of 450k-500k with 3,5%. and my credit score is 700. So yeah, that’s the situation. I need advice or a solution.

Qualifying For Mortgage With Charge Off With Balances. I have multiple outstanding charge-off accounts with balances. Can I qualify for a mortgage?

Qualifying for a FHA with Gaps in Employment? What are the HUD guidelines on qualifying for an FHA loan with employment gaps?

Will bank overdrafts disqualify me for a mortgage loan approval?

Would I be eligible for a cash out refi with 80% equity in my home and a 580 credit score?

Vice President Kamala Harris has spent $1 billion and is $20 million in debt. She has also paid celebrities and high-profile people money from her campaign for their endorsement. Kamala Harris has paid Oprah Winfrey $1 million for her endorsement. Harris paid Beyonce $10 million and Reverend Al Sharpton $500,00 for her support. The list goes on and on. Has Kamara Harris committed a money laundering scheme? Did Kamala Harris commit a crime? Who is behind this payment for the sponsorship scheme? The Democrat Party? Barack Obama? Joe Biden? Mark Cuban?

https://www.youtube.com/watch?v=fBlnmptY3dA

I have a payment plan with both the state of Kansas and the IRS for under payment on taxes. We know what the problem was with my wifes withholding at her employer. IRS doesn’t ask for the debt to be paid in a year, but Kansas does. Both debts will be paid off in a year or earlier. (Due to the them taking next years tax return if money is still owed) will these pay arrangements effect approval, dti, etc? No tax liens btw

About time

Home prices in Chicago South Loop are plummeting. Sellers are lowering prices and offering incentives. This correction is continuing throughout the city and Suburbs. Expect the downturn to continue in Chicago and other cities. Stay tuned

Money is not wealth. Money comes and goes. However, you need to realize how many millionaires lost everything they have and had to restart over. Wealth is relationships. You cannot take that away. However you need two people who are committed to make the relationship work.

If the FHA Title I loan is under $7,500, the title I loan is considered an unsecured personal renovation loan. However, any Title I loans greater that $7,500 up to $25,000 is considered a second mortgage and the lien is placed on the house behind the first mortgage.

I have a 705 credit score and zero late payments. I have a 16 year job history and make 80,000 per year. I also have a nine year rental history. I have the opportunity to purchase the townhome that

I’ve been renting but I’m concerned because my DTI is 48.5%. Do you think I will still get an approval? And if so, do you know if I will need mortgage reserves and if so approximately how much? I’m using a 401(k) loan for the down payment and closing costs. Any info would be appreciated! I’m so glad I discovered your website as there is so much valuable information to help educate first time homebuyers!

I am a recent graduate 150k student loan debt, cc $11k car loan $450 a month. New job offer $53K starts 9/1. I did not work while in graduate school. My husband worked same job since 5/18. But income was significantly reduced last year( received unemployment) now he works 30-50 hours a week with mostly overtime and double time. His Ch 7 was discharged 7/19. Our middle scores are around 658-660. His hourly rate is 26 but his pay is more overtime and double time. he has small credit rebuilder cards of less than 1000 limits across all 3 reports. his income is around $60k, We are first time homebuyers Can he buy a home for $100k or less rent rooms out $850×3, and I do the same and use that to qualify for a home around $490K. We lived on savings this last year and are down to our last $5k we would each buy a home without any first time assistance programs that have a occupancy requirement. Once rented we would use our income and rental income to build savings to about 15k. And we want new construction and will finance our cc. Is this possible?

I am in the middle of the loan process with Cross Country Mortgage Brokerage in Schaumburg. I get a condition that needs realtors, sellers, and my signature and is called FHA AMENDATORY Clause. I asked my loan officer at least 5 times what a FHA AMENDATORY Clause means. I get different answers every time . I asked a processor from the Walden street branch of the the Cross Country Mortgage branch and the processors tells me that I need to talk to my loan officer. She says she cannot tell me because only licensed loan officers are allowed to explain it. I then reseached Cross Country Mortgage and they had the worst reviews. I think nobody at the Walden street branch in Schaumburg Illinois knows what the FHA AMENDATORY CLAUSE is. Can someone explain to me what the FHA AMENDATORY CLAUSE IS and is it supposed to be a secret?

What is Judgment Day?

I first got my auto loan when my score was a eq476 my score is now a eq575 and going up. I don’t have my other scores as of now because TU cannot generate a score for me for some reason, and ex is making corrections to my score so it’s not accurate right now. I know if you’re ready to do so soon, it won’t hurt you but sometimes give you a better rate. Any help?

Is Kamala Harris the best candidate The Democrats have to face former President Donald Trump for 2024 Presidential Election? Are the Democrats that desperate of having a semi-descent candidate for President? Do Democrats think the American people are that stupid? Do Democrats need to name Kamala Harris, the person who slept her way up the political latter? Kamala Harris slept with former San Francisco Mayor Willie Brown to kick off her political career. Kamala Harris is not too smart. Many people cannot believe how she even became a lawyer let alone District Attorney of San Francisco, Attorney General of California, United States Senator, and Vice President of the United States. Now she is running for President? OMG. What has Kamala Harris ever achieved in her political career. Watch this video clip about Kamala Harris.

https://www.youtube.com/live/RcsRfo16ZC8?si=gFA0rsAlw8iu0KLU

What does art contribute to the world’s economy?

How do I finance a pole barn building?

What Do Urban Planners Do?

I have an existing loan with low balance. I have a low credit score. Around 587. Can you do a manual underwrite for that on a cash out refinance? I am married but I am the only one on the mortgage.

I have been in my same job for 4 years but was recently converted into a 1099 wage earner from W2. Can I still qualify for FHA loans?

My question is with a 630 average FICO score (2,4,5) and my new taxes showing increasing income in the new year (2024) what other concerns should I have or try to prepare for when I apply for an FHA. DTI is low as well

My husband and I are looking to buy a house. however he only has 1 year of employment whereas I have over two years of employment. My husband only has one year of employment because he was living abroad. While living abroad he had no work history. Would we still qualify for a mortgage?

My application is currently in underwriting. I am concerned that because my student loans are so high that my DTI may not pass. I have found a home that is scheduled to close on 11/19/2024. Honestly I did not see you site until after applying thru my current lender. Would you be able to take over the case and will I still be able to close on November 19th, 2024 or earlier? I am in Illinois and also seeking downpayment assistance if possible. The Home Inspection and Appraisal have all been completed. My student loans total 186k and I am currently in deferment, but the lender is saying that the payments are coming up to 0.50% of the outstanding student loan balance per month…but I am paying $0.00. My credit score middle is 643. Also I am currently employed but will start a new job in a week making more money. Can you help? What steps will I need to take.Renting a home for two years owner decided to sale to me via notice to vacate. I have bad credit, owe taxes and zero for a down payment. What are my options in Michigan

How Do You Calculate the Debt-Service Coverage Ratio (DSCR)?

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What are the benefits of FHA high-balance jumbo loans?

What is the difference between secured and unsecured credit cards?

What factors should a church consider before taking a loan?

• This discussion was modified 7 months ago by  Sapna Sharma.

What are the risks associated with No-Ratio DSCR Loans?